When it comes to earnings, the direction is like Schroedinger's cat for me.
It's like pure gambling and I would more like to gamble in Vegas or Macau rather than the stock market,so I never try to predict the direction before earnings.
Like my last article a few moment earlier today, I like to react with the price action of the market, not figure out the...
I'm entering longs here, averaging in gradually. I anticipate a monthly scale rally, back to 54.59 possibly, coming off a double bottom at key support, with an extremely low valuation, and positive news regarding breakthroughs in delaying drug metabolism.
Good luck!
Ivan Labrie
Weekly chart showing some positive divergences. Buying volume increasing/selling volume decreasing. Good support around $32. May be waiting for earnings catalyst in May.
The $TEVA chart just keeps getting better and better....
Quarterly chart is rejecting last 2 major lows with a pinbar with stoch RSI overbought
Ideally we bounce here to retest the fibs and form a right shoulder before complete capitulation.
If the H&S formation is confirmed $TEVA should head down to levels we haven't seen since the 90's ($10 and below)
TEVA is in steady downtrend, since last Dec it's being consolidating blw previous strong support at 35.00. Today's good report is a great chance sell more at a very attractive price.
So today I would be looking for shorts against 35.00
Shares of Teva Pharmaceutical Industries Ltd (NYSE:TEVA) plummeted after-hours Monday after four patents on Copaxone were invalidated. The stock fell as much as 10% to nearly $31. Teva Pharmaceuticals has been under pressure for months from government threats of drug price curbs. The stock is trading at 10 year lows. I am alerting investors that there is major...
We appear to be bottoming at the neckline of a potential H&S. This thing is a monster and can be easily seen on the 6 month and yearly time frames.
You could buy the relief rally that takes us back up or wait for extra confirmation and sell the relief rally with a formation of that shoulder.
Heres a stab at fibs for TEVA. unfortunately, i can't give you a target entry because it looks as if the company has been selling off all year, with the exception of a couple of pullbacks. Healthcare industry is risky atm! If I had to go in, it would be after a move upwards to the bottom rectangle. That's how I tend to chart at least. Be careful!
